Oppenheimer analyst Leah R. Cann maintained a Buy rating on Constellation Pharmaceuticals Inc (NASDAQ: CNST) today and set a price target of $21. The company’s shares opened today at $6.34, close to its 52-week low of $5.57.
Cann observed:
“Having received Fast Track designation, CPI-0610 developers are eligible for more frequent interaction with FDA to discuss the drug, and more frequent written communication about the design of the proposed clinical trials and use of biomarkers, eligibility for accelerated approval and priority review, and rolling review. We view receiving fast track along with the recent enhancements to the MANIFEST study as positioning CPI-0610 as a potentially impactful new entrant into the myelofibrosis market. Based on our outlook that Constellation could launch the first two of its potential drugs in 2023, we estimate revenue could increase to $2.09 billion in 2025. We anticipate CPI-0610 2025 sales of $249.2 million, or 11.9%, of Constellation’s estimated 2025 revenue.”
According to TipRanks.com, Cann is a 3-star analyst with an average return of 1.7% and a 38.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Constellation Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $19.
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Based on Constellation Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.94 million. In comparison, last year the company had a GAAP net loss of $7.99 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNST in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Constellation Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, develeopment, and provision of biopharmaceutical products. It researches and develops small molecule therapeutics for the treatment of cancer, inflammatory and immunologic disorders. Its products include CPI-1205, CPI-0209, and CPI-0610.
